Income $$ Increases compared

[grammafreddy]

http://www.castanet.net/news/Central-Ok ... the-valley

The four year contract is retroactive to January 1, 2011 when workers became certified.

The new agreement runs through December 31st, 2014 and provides general wage increases retroactive to January 1st 2011 of 1.25%, 1.5% for 2012, and 1.6% in each of the two remaining years.

OAP got an increase of 0.9% COL. The cheque this month is just over $500. No retroactive anything. No guaranteed increases at any time.

[NAB]

Seems to me people need to be constantly reminded that a % increase, when converted into actual dollars, depends very much upon the base it is applied to. The higher that base, the more dollars a particular percent increase provides. And it compounds over time. A COL increase of 2% on a meager 500 a month OAP payment is pretty insignificant when compared to a 2% COL increase for someone pulling down 5 grand a month or more. is it any wonder the income gap just keeps getting wider, and wider, and wider, and wid.....

Nab

[Smurf]

That is why you often see unions ask for dollar amounts. 50 cents an hour means a lot more at the bottom than the top and actually closes the gap a tiny bit.

[Captain Awesome]

Yet another reason not to count on the govt to take care of you when you get old.

[Smurf]

I have frst hand experience with it being done, but I certainly would not want to do it. My mother-in-law actually saved money with only her government pension as income. She lived quite happy in a nice one bedroom apartment in Vernon.